Multimodal dynamic functional brain imaging comprises a set of hardware and software tools intended to permit researchers and clinicians to study where and when events occur in the brain. REGAE (regional activity estimation) is a feasible and promising new methodology for estimating fast neuroelectric activity that originates in one or more brain regions of interest (ROls), and has the potential to extend existing functional imaging methods. The REGAE method is based on the combination of imaging and electrophysiological (EEG or MEG) data, using advanced statistical analysis tools. Both spatial resolution and RO1 signal detectability are quantifiable within the REGAE framework, within which an estimator's sensitivity to modeling and measurement errors can be characterized. The overall aim of Phase II is to push forward with theoretical advancement, sensitivity studies, and real-world evaluations of REGAE in order to develop a commercially successful software component that integrates with existing EMSE Suite software. The intended market areas for REGAE are: (i) basic research in human brain mapping and cognitive neuroscience, (ii) preclinical research in neuropsychiatry and neurology, and, most specifically, (iii) clinical application in presurgical evaluations for intractable epilepsy.